April 20, 2024

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Blockchain firm Coinplug said on Nov. 28 that it showcased decentralized identity, or DID, solutions, during the ASEAN-Republic of Korea Commemorative Summit in Busan.

Participating in an exhibition, named AEAN-Korea Smart City Fair, from Nov. 25 to 27, the firm introduced its solutions that help enable users to have a full control over their identity data without relying on a central repository system.

The company’s solutions, based on the DID platform of blockchain company Metadium, are being deployed in various projects, including those aimed at preventing illegal financial transactions, and keeping personal data from being overused by the authorities.

“The company will try to partner up with businesses in Asian nations to expand its range of services -- for preventing illegal financial transactions, protecting personal data, and advertising -- into new markets,” Coinplug CEO Euh Joon-seon said.

The smart city exhibition was held on the sidelines of the conference of six nations -- Cambodia, Laos, Myanmar, Thailand, Vietnam and Korea. Some 119 companies from Asian countries took part in the three-day trade fair.

Founded in 2013, Coinplug is currently working with Korean companies and government organizations, such as SK Telecom and Korea Southern Power. Vitalik Buterin, the co-founder of decentralized platform Ethereum, serves as a tech advisor for the blockchain firm.

By Kim Young-won (wone0102@heraldcorp.com)